Forex books recommended for beginners: Which titles to choose for your preferences? 9 stories from leading authors

When it comes to Forex trading, books play a crucial role in helping you reduce repeated losses caused by others’ mistakes. This article will present 9 recommended Forex books that most people want to read before entering the market.

Build confidence through firsthand experience

Forex trading books are not just about game theory. A good book will tell you how real traders have made mistakes and recovered from them. Therefore, the need for trustworthy content is very important.

1. The Black Book of Forex Trading - Paul Langer: A book for long-term planning

Recommended score: ⭐⭐⭐⭐⭐

Paul Langer experienced a loss of $50,000 when he entered the market 8 years ago. He turned that experience into a systematic trading approach. The book’s structure covers everything from basic price movements to advanced strategies.

Highlights:

• Uses simple language, avoiding confusing jargon
• Consults trading styles that sound simple but generate consistent profits

Limitations: Advanced traders seeking new tips may find the content outdated

2. Forex Trading: The Basics Explained in Simple Terms - Jim Brown: A book for beginners

Recommended score: ⭐⭐⭐⭐⭐

Jim Brown started in 2002, drawing charts by hand. Today, he automates trading systems across multiple screens. This book compiles lessons from beginner to professional trading.

Highlights:

• Includes free indicators designed by him for MetaTrader 4/5 and TradingView
• Full content explanations without clutter

Limitations: English content may require more time to read

3. How to Start a Trading Business with $500 - Heikin Ashi Trader: A book for those with limited funds

Recommended score: ⭐⭐⭐⭐⭐

People who say “You need a big capital to trade Forex” are mistaken. Heikin Ashi Trader proves that with good risk management strategies, starting with $500 can become a full-time career.

Highlights:

• Covers platform selection and setting appropriate stop-loss
• Step-by-step guidance for traders with limited budgets

Limitations: Lacks in-depth information for those wanting advanced strategies

4. Trading in the Zone - Mark Douglas: A book for mindset

Recommended score: ⭐⭐⭐⭐⭐

If you profit in demo but struggle in live trading, this is your answer. Mark Douglas delves into trader mindset and discipline.

This book is not just a technical manual but a deep conversation about:

• Why “knowing” and “doing” are different
• How to follow your trading plan despite market volatility
• Accepting “probability” instead of guessing

Highlights:

• Reveals trading psychology often hidden
• Narratives that make you rethink trading

Limitations: No specific technical analysis formulas

5. Currency Trading for Dummies - Paul Mladjenovic, Kathleen Brooks, Brian Dolan: A comprehensive guide

Recommended score: ⭐⭐⭐⭐⭐

This book is designed for those new to Forex, showing how vast the world is. The authors come from different backgrounds:

• Paul Mladjenovic: Financial planner
• Kathleen Brooks: Forex analyst
• Brian Dolan: Strategy trader

What you’ll learn:

• How the Forex market works and what drives currencies
• Fundamental analysis (fundamental) and technical analysis (technical)
• Latest trends like crypto exchange funds and currency options

Highlights: Covers fundamentals thoroughly, with no gaps

Limitations: May lack deep techniques for experienced traders

6. Forex - Dave Matias: A book for analytical minds

Recommended score: ⭐⭐⭐

Dave Matias has been trading since 2009. He emphasizes macro fundamentals (macro fundamental) over quick chart signals.

What you’ll get:

• The relationship between supply and demand
• How to interpret the “story” driving the market, not just technical signals

Limitations: Contains many technical terms; beginners may need to read slowly

7. Forex Trading Money Management System - Don Guy: A book for those who want to preserve capital

Recommended score: ⭐⭐⭐⭐

Don Guy started as a “roulette trader” who lost $2,000. After 12 years, he developed a money management system that works.

The course teaches:

• How to determine safe position sizes
• How to rationally cut losses, not emotionally
• Systematic trading plans, not guesswork

Highlights: Practical and easy to understand strategies

Limitations: May require basic Forex knowledge to fully grasp

8. FOREX THE HOLY GRAIL - SIMONE SIESTO: A book for those wanting an edge

Recommended score: ⭐⭐⭐⭐

Simone Siesto studied economics, started trading at age 20, and is known for his self-designed (indicator).

This book challenges traditional trading methods, presenting:

• Swing trading techniques (swing trading)
• Position trading techniques (position trading)
• New indicators unfamiliar to most

Highlights: Enjoyable reading with step-by-step knowledge

Limitations: Some technical terms may confuse beginners

9. The Sensible Guide to Forex - Cliff Wachtel: A book for long-term investors

Recommended score: ⭐⭐⭐⭐

Cliff Wachtel has over 30 years of experience in financial markets. He is not a short-term trading coach but offers advice for long-term investing.

This book is useful if you want to:

• Protect your currency from depreciation
• Diversify your investment portfolio
• Strategize Forex trading differently from others

Highlights: Practical fundamentals suitable for both beginners and professionals

Limitations: Does not explain “get rich quick” trading methods

How to choose the right Forex book

All 9 books are good, but not all will suit your path.

Step 1: Define your goals first

• Do you want short-term or long-term trading?
• Are you seeking extra income or a full-time career?
• Interested in charts and numbers (technical) or news and economics (fundamental)?
• What is your trading budget?

Clear answers = choose the right book

Step 2: Check the authors’ experience

Authors with real trading backgrounds and hands-on experience will provide more valuable insights than those writing just for the sake of writing. Try to find out:

• When and how much profit they made?
• How many old books or articles have they published?
• Are they prominent in the Forex community?

Step 3: Dive into two “Contents” sections

• Does it cover fundamentals or advanced strategies?
• Does it include (risk management)?
• Is it thick with basic concepts (fundamental) or technical (technical)?

Step 4: Assess the difficulty level of the language

Beginners should choose books where:

• Technical terms are clearly explained
• Sentences are not too long
• Include real market examples
• Avoid vague pronouns like “he”

Recommended learning steps

1. Start with Jim Brown or Paul Mladjenovic if you have basic issues
2. Then move to Mark Douglas once you understand the methods; focus on mindset
3. Deepen your money management with Don Guy or Heikin Ashi Trader
4. Expand your perspective with Dave Matias or Simone Siesto at intermediate level
5. Finish with Cliff Wachtel if you think you’ve made profits and need to protect them

Summary: Forex books are an investment, not an expense

All nine authors have experienced many losses, designed systems, or learned through trial and error to find success. Their books can save you time in learning.

Which one to choose? The answer is: Start with one and keep reading. Don’t overthink, because in Forex markets, the problem isn’t knowledge but practice and mental discipline.

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